Etihad Atheeb Telecommunication Co. (GO) announces its Annual Financial results for the period ending on 31-03-2024
09/06/2024
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,016.12 | 630.34 | 61.2 | ||
| Gross Profit (Loss) | 305.47 | 182.69 | 67.21 | ||
| Operational Profit (Loss) | 199.04 | 57.9 | 243.76 | ||
| Net profit (Loss) | 194.68 | 42.47 | 358.39 | ||
| Total Comprehensive Income | 192.84 | 42.08 | 358.27 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 558.91 | 116.08 | 381.49 | ||
| Profit (Loss) per Share | 6.43 | 1.43 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The Company achieved the highest revenues in its history, as the Company breaking the billion barrier to be 1.016 billion SAR compared with 630 million Saudi riyals in the previous year with an increase of 385 million Saudi riyals. This is mainly due to the increase in B2B sales revenues by 234 million Saudi riyals, in addition to the increase in revenues. Of the wholesale sales sector amounted to 120 million Saudi riyals, and an increase in retail sales revenues amounted to 32 million Saudi riyals. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason behind the increase in net income for the year compared to the comparative year is due to: - increase in revenue, increase in other income - decrease in selling and marketing and generating a financial charges income In spite of the increase in costs of services, general & administrative expenses, and the allowance for impairment in trade receivables. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | - |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the presentation in the current year, to enhance the comparability of information and to be more appropriate for users of annual financial statements. |
| Additional Information | - The Company signed a liabilities settlement agreement with TAWAL company to settle its liabilities and bought back 488 telecom sites, resulting in gain of 34 M SAR. - The earnings per share for the current year reached SAR 6.43 as compared to SAR 1.43 last year. Last year earnings per share were restated because of the right issue |
